Market Update: INTC

‘Negative Waves’

The market’s got a bad ‘vibe’.

It’s possible the latest bank-run scare was only a one-day reprieve.

Chief cook, and bottle washer, Intel (INTC) pushed past the upside area identified in the last update.

It now appears to be in a ‘test and reversal’.

The first chart is the hourly, showing the 50% retrace.

Intel INTC, Hourly

When pulling farther back to the daily, we see the trend line break being tested … today.

Intel INTC, Daily

During yesterday’s session, we have not even got started to the downside and already data vendors were having trouble (network problems) providing market quotes.

As this post is being created (2:05 p.m., EST) Intel continues to pull away from its intraday highs.

Currently trading at INTC 27.63.

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279

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